Monday, November 17, 2014

Osisko Gold Royalties Ltd said on Monday it has agreed to acquire smaller rival Virginia Mines Inc for C$479 million ($424 million), creating a C$1.3 billion ($1.2 billion) company that owns royalty interests in two major gold mines in the province of Quebec.The deal will give Montreal-based Osisko, which already owns a royalty in the Canadian Malartic asset, a royalty interest in Goldcorp Inc's �l�onore mine, which began production last year. �l�onore is ramping to 600,000 of gold ounces annually by 2018 and Canadian Malartic is currently producing about 525,000 ounces of gold annually.The takeover is yet another example of growing M&A interest in the beaten down mining sector, which has seen equity values of largely precious metal-focused Canadian miners hurt as gold prices have dropped over 30 percent, and silver has plunged more than 50 percent over the last two years.Earlier this month though the sector received a spot of good news when New Gold agreed to purchase Bayfield Ventures Corp for C$16.6 million, soon after two silver miners Scorpio Mining and U.S. Silver & Gold also announced plans to merge, creating a C$65 million combined entity.

Bayfield Ventures Corp. is a Canada-based company. Shares of BYV traded higher by 2.44% or $0.005/share to $0.21. In the past year, the shares have traded as low as $0.12 and as high as $0.41. On average, 131129 shares of BYV.V exchange hands on a given day and today's volume is recorded at 671400.

Gold Royalties Corporation (Gold Royalties), formerly Richmond Row Capital Corp. Shares of GRO fell by 7.69% or $-0.01/share to $0.12. In the past year, the shares have traded as low as $0.08 and as high as $0.50. On average, 19061 shares of GRO.V exchange hands on a given day and today's volume is recorded at 20000.

New Gold Inc. is engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation. Shares of NGD remained unchanged at $4.08. In the past year, the shares have traded as low as $3.37 and as high as $6.78. On average, 3950130 shares of NGD exchange hands on a given day and today's volume is recorded at 0.

New Gold Inc. is engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation. Shares of NGD traded higher by 7.24% or $0.31/share to $4.59. In the past year, the shares have traded as low as $3.85 and as high as $7.28. On average, 877725 shares of NGD.TO exchange hands on a given day and today's volume is recorded at 2248322.

Scorpio Mining Corporation (Scorpio Mining) conducts mining exploration, development and production in Mexico. Shares of SPM traded higher by 10.53% or $0.02/share to $0.21. In the past year, the shares have traded as low as $0.17 and as high as $0.44. On average, 148976 shares of SPM.TO exchange hands on a given day and today's volume is recorded at 638972.

Virginia Mines Inc. is engaged in the business of acquiring and exploring mining properties. Shares of VGQ fell by 0.3% or $-0.03/share to $10.07. In the past year, the shares have traded as low as $9.25 and as high as $14.45. On average, 23618 shares of VGQ.TO exchange hands on a given day and today's volume is recorded at 15568.

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